The UK government has announced changes to the way major infrastructure projects are assessed, in a move designed to unlock more investment and make long-term public projects easier to approve.

The Treasury said it will lower a key rate used to calculate the long-term benefits of public investment. The change is intended to make more infrastructure schemes financially viable under government evaluation rules.

The policy could support investment in areas such as transport, public services and major infrastructure development, as ministers look to encourage projects capable of strengthening Britain's economic capacity.

The announcement comes as the UK faces pressure to improve productivity and attract greater private-sector investment. Faster progress on infrastructure is also being viewed as important for supporting economic growth and modernising public services.

For businesses, the change could create opportunities around construction, engineering, transport infrastructure and long-term investment projects as the government seeks to increase the pipeline of viable developments.